Google Cashes Out of Baidu

Baidu is the “Google” of China with 51% of the market (according to CNNIC). Awhile back, Google bought a small chunk of the company, before it went public, presumably with the intention of using Baidu as its point of entry into China. Apparently, the powers that be wouldn’t let that happen, which led Google to launch Google China (and suffer the wrath of negative publicity from outside of China).

According to AP, Google just sold its share of Baidu putting an end to that dream. Google made money on the deal — $55 million — but I’m guessing it would have rather owned 100% Baidu and 0% Google China. But that’s all history now and millions of Chinese are brand new to the Internet — still plenty of time left for Google to out-Google Baidu.